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E tourismbookver2.0


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The Final OAP Report including prelim Market Analysis

Published in: Travel, Technology, Business
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E tourismbookver2.0

  1. 1. An Integrated Tourism Learning& Delivery System
  2. 2. * We at eTourismBook facilitate the Tourists and the Local Tourism Service Providers to offer a memorable and Authentic Holiday experience through seamless integration.* We cater to the tourists in the entire tourism lifecycle – from PLANNING to VALUE ADDING their choices, to allowing them to SHARE THEIR EXPERIENCES. In the whole process we try to create deeper engagements through learning and through knowledge sharing.* We Leverage Web 3.0 by combining content with context based personalized search
  3. 3. * Most Tourism sites are fragmented and cover only certain aspects of the destination being covered. For e.g. it may cover the main tourist attractions, some key aspects of history and geography of the location; but fail to address the suggestions on what to eat, where to stay and the experiences that they can create for themselves.* The Tour Booking systems on the other hand try to provide very scanty information about the destination barring the information required for tour booking with very little freedom to the customer to choose his own Itinerary.* Moreover, the information on both literature and tour booking systems are on different formats and sites, so exchange of information is not possible and the user has to hop between two different sites/places.
  4. 4. *In either cases, they tend to focus on either the tourist or aid the tourism service providers (tour operators/aggregators).*While information may be available from different places, it may also not always be available in digital format and important local content may be absent, which necessitates that digital products are created to provide a satisfying user experience with very strong local and updated data.
  5. 5. *An Integrated platform for learning about tourism through ebooks, experts, engagements through technology enhanced mechanisms for both service providers and tourists to appreciate and truly experience a tourism destination.* Facilitatesboth selling and buying tourism products seamless and filled with Fun and Joy.
  6. 6. For Tourist* Help create a personalized itinerary.* Help achieve the best experience from clutter of information brochures of Tourist Destinations!* We offer an end to service delivery for the customised tours which can be personalised and help to integrate the learning aspect with the same.For Tourism Service Provider* If you a Tourism freak, a Destination Marketer, a Tourist Guide, a Language Expert, a Culinary Expert or any other local service provider but do not have a say in the tour packages being offered, we promote your services by connecting globally through our technology and the tourist databases*
  7. 7. * Nearly 260 million jobs worldwide are supported by Travel & Tourism – either directly in the industry or in related sectors.* For every tourist we have at least 30 people in the tourism value chain. Only 4-5 of them are tapped rest cannot contribute as they are isolated and cannot reach out to offer their service. We facilitate these service providers to be able to sell their wares.* The site would allow information in Text, books, Video and audio format with guiding maps to help direct the traveller and support the same for the execution of the transaction. It would also allow the local TSP to list and update their offerings to the discerning tourist including the last minute deals and generate revenues on bookings.
  8. 8. 1.Travel & Tourism is one of the world’s leading industries, or economic sectors representing a major source of GDP and employment. The World Travel & Tourism Council (WTTC) expects it to contribute almost US$7 trillion to the global economy.2.The global online travel segment is valued at nearly US$313 billion in 2012 according to PhoCusWright.3.We plan to position ourselves with unmatched personalized service.4.Revenue of some travel ecommerce portals in 2011- * Expedia - $3.45 billion * Orbitz - $766.8 million * Priceline - $991 million
  9. 9. * Travelers are unable to find all information needed to take informed decision on their choice of destinations at one place.* Tourism service providers do not have enough material to recommend a particular destination to the discerning traveler.* Integrated approach to learning and Delivery of value added content on Tourism can be facilitated by the new advancements in technologies (web, mobile, tablets, cloud, augumented reality, etc), Web 3.0 and mashup technologies.
  10. 10. Dolly BhasinThe Team LeaderRajesh NairThe Dream WeaverApurve GuptaThe Web Chutney MakerAkanksha AnguralaThe eHostessSreenath ChintaThe eSolutionsArchitect
  11. 11. Shallabh Mittal The eBookerFakher OueslatilThe eConnectorRavi YThe BizDeveloperMay NyeinThe Cultural AmbassadresElisa EffendyThe eCook
  12. 12. The following experiments had been initiated for the OAP:*Face to Face meetings with Tourism value chain members*Online questionnaire for assessment link text*Find out student teams working on similar ideas (intourism, India, Culture/heritage) and cross verify the valueprepositions to seek alliance*Check for similar initiatives, already available*Check for eBooks, eliterature, ezines, etc. ontravel/tourism*Brainstorm for New Name for the project which is catchyand conveys the theme
  13. 13. * We named the project eTourismBook* The team met around 22 value chain members, who are currently in some aspect of the tourism business Face to Face or on an online chat/ phone and every one showed positive inclination for the project and felt that the project needs to be pursued and they gave their suggestions how they can participate in the project.* There are about 60 responses so far and the major findings are:  i) Hypothesis 1 is validated, Most Respondents do not use tourism service providers and want to self plan or some take the Travel agent route; this is because they find that the tourism service providers are unable to add value to their online purchases  ii) Hypothesis 2 is also validated.  iii) Hypothesis 3 is aptly validated as majority respondents use technology for tourism planning, research and post tour experience sharing.
  14. 14. * We found few teams working on tourism ideas contacted and cross participated in their hypothesis testing. Two most relevant were: Los Empresarios  GoGetters  others were in Hospitality and Restaurant related ventures.* We found two very similar products to our idea (though there are many differences)  a. - The independent travel store  b. Schemer - * Also found some interesting ebook/books on the subject  The Savvy Operator - A Social Media Strategy for Tour & Activity Operators many eBooks are available on in ePub Format. Magazines like Conde Nast are available in digital format and so is an augumented reality showcase at National Geographic
  15. 15. * Based on the OAP we feel that the opportunity exists for this project* Considering that the market size is very large and the Tours market has the highest value add – we should be able to tap a reasonable market share* $ Value of MARKET: However, until we have a prototype, people are unable to comprehend as to what they will pay for the service and hence we need to develop the same and then go back to assess the exact $ value of the market.* In the meantime we decided to access the performance of key tourism market segments that we would benefit from.* CHALLENGES: There are risks in being able to offer integrated services from independent service providers and yet maintain quality.
  16. 16. * Based on the questionnaire survey, we had a feedback that there are 5 niche markets for tours in which we should operate. We then worked on secondary data from industry and published reports to find out what kind of market size exist for these. Despite the fact that these are not mutually exclusive markets, the customer base, marketing efforts and product development/positioning would be different for each.* CULTURE & HERITAGE TOURS MARKET* ACTIVITIES TOUR MARKET* MEDICAL TOURS MARKET* PILGRIMAGE TOURS MARKET* LUXURY TOURS MARKET
  17. 17. * Cultural, heritage and historical tourism describes all tourist trips that include cultural activities (e.g. the visiting of monuments or sites), as well as experiences and interaction with local people.* OECD and the UNWTO report that in 2007, cultural tourism accounted for 40% of all international tourism.* With $919 Billion Tourism Revenues in 2010*, the culture tourism translates to $368 Billion Revenues* Estimated 160 million trips per annum* So the World Market average per cultural trip is approx. $2300* UNWTO Tourism Highlights 2011
  18. 18. * The culture, heritage and historical tourism segment is largely made up of * “empty nesters” (adults whose children have left home) and the senior age group; they predominantly fall into the 45 to 60 years age group. * However, the younger age group, driven by “gap year” students (typically aged 20-29 years), are also a key demographic group.* Cultural tourists usually have a higher than average annual income and are generally well educated.* They have a large amount of travel experience, are quality conscious and are sensitive to environmental and social concerns.* UNWTO Tourism Highlights 2011
  19. 19. * The key destinations for cultural tourism are in Europe and Asia. Most prominent among these are: * Europe (most countries are strong in this segment) * Asia (significantly: China, India, Thailand, Malaysia) * South America (significantly: Mexico, Argentina, Brazil, Peru)* The Key Source markets for cultural tours are: • Europe • United States • United Kingdom • Japan • ScandinaviaSource: Responsible Travel, UK
  20. 20. * As per the Phocuswright report the potential of the US activity market is $26.8 billion* This segment is the third largest segment of the travel industry after hotel and air. However a major portion of this market is managed by Small and Micro businesses.* Companies like Viator and CityDiscovery and others like Isango, Kijubi, and GetYourGuide currently use a merchant model & work with these TSMEs to distribute and sell their tours. Yet only 14% of bookings coming through these channels.* Only 36% of the Tour Operators have websites that allow any kind of on-line booking! Even fewer, about 12% of suppliers have a reservation or CRM system* Education of the Tour Operators is the key to bring in an integrated online approach.(Source: Tnooz)
  21. 21. * Medical tourism refers to the act of traveling to another country to seek specialized or economical medical care, well being and recuperation of acceptable quality with the help of a support system.* Over 50 countries have identified medical tourism as a national industry. * Popular medical travel worldwide destinations include: Argentina, Brunei, Cuba, Colombia, Costa Rica, HongKong, Hungary, India, Jordan, Lithuania, Malaysi a, The Philippines, Singapore, SouthAfrica, Thailand, and recently, Saudi Arabia, UAE, South Korea, Tunisia, Ukraine, and New Zealand* World medical tourism market is estimated to be $100 billion by 2010 (estimates vary)* Over 500,000 Americans travelled abroad for medical procedures in 2005Source: Wikipedia & Delloite
  22. 22. * Pilgrimage tourism refers to tourism motivated by religious or spiritual reasons or associated with religious heritage sites.* A Spiritual tourist seek to address the interdependence of physical, emotional, mental and spiritual, often referred to as ‘mind, body and spirit, mostly spiritual tourists are the senior age group they predominantly fall into the 50 to 75 years age group.* A spiritual tourists is not attracted to leisure they seek meaning, engagement and peace through activities such as meditation. Spiritual tourists can belong to any income group.* According to the World Tourism Organization, an estimated 300 to 330 million pilgrims visit the worlds key religious sites every year. Global religious travel market has reportedly become an $18 billion-a-year industry.* North American religious tourists comprise an estimated $10 billion of the industry.
  23. 23. * There is no one definition of Luxury or upscale travel. It is determined by a range of products, from offering the unusual in the way of scenery and cuisines to breathing taking decors, to an integrated travel experience that combines everything from gourmet foods to spa experiences.* Intuitive personalised service is of paramount importance to the luxury traveller, whose expectations can be a challenge to meet. Providers are also kept on their toes by the ever-growing appetite for a fresh, new, extraordinary travel experience that will guarantee lifelong memories.* The Expected size of this market is $1 Trillion*  Luxury travellers are largely middle-aged travellers. According to the results to date of our Internet survey conducted with ILTM buyers, half are between 45 and 55. The 35 – 44 range has grown faster, indicating that luxury travellers are becoming younger.
  24. 24. * Source Markets: * Europe, the main luxury outbound markets remain the U.K., Germany, France, Italy, Holland and Russia * Middle East – Dubai * Americas * Asia-Pacific region, Japan and Australia are main, whereas China and India are the two biggest source markets in terms of volume. As secondary markets, Hong Kong and Singapore are dominant; Taiwan and Korea are key growth markets* In terms of luxury tourism demand four traveller profiles emerge: * The super-active, independent-minded, educated customers who look for active holidays and an authentic travel experience. As their time is precious, they reject rigid sets of planned activities. Their main aspiration is for highly personalised holidays, regardless of price. * The explorer is a traveller who is ready to pay a high price in return for an outstanding off- the-beaten-path vacation. The candidates for luxury aspire to a high level of quality and comfort. They pay great heed to social status and are very demanding in terms of service. They are more followers than pioneers in their choice of destination. * The streetwise purchasers are great users of the Internet and search relentlessly for the best possible value. They are younger and have less purchasing power than the average luxury tourist. Often with two incomes and no children, they travel off-season at attractive prices. * The standard luxury traveller who flies to a destination, or takes a leisurely cruise, primarily for relaxation and a change of pace.
  25. 25. * Primary Destinations * Europe - 41% with France (14%) and Italy (9%). Paris, the French Riviera, and Tuscany are main. * Asia/Pacific region - 27%. Maldives, Japan, India and French Polynesia, followed by Thailand and New Zealand. * Middle East and Africa -18%, with Austral Africa and Mauritius at12%. * Turkey and United Arab Emirates (UAE) attracted 6%. * In the Americas, the U.S. (especially California and Hawaii) dominates at 8%, followed by the Caribbean (Caribbean cruises, Bermuda) and Latin America (Argentina) at 6%. * Among these regions, the most popular cities include the following: * In Europe: Paris, Rome and London * In Asia Pacific: Singapore, Hong Kong and Tokyo * In Africa and the Middle East: Dubai and Cape Town * In North America: New York, Miami and Los Angeles * In Latin America: Rio de Janeiro and Buenos Aires
  26. 26. * Each Market is well suited for our proposed venture* The learning component is well established for each market segment* The combined market potential is very large and if tapped properly can yield very good business preposition.* More Research and analysis is need for proper Opportunity Assessment Pilgrimag e Tourism Culture Tourism Rev. $18 Billion Rev. $ 368 Billion Luxury Tourism Health Tourism Rev. $ 1Trillion Rev. $100 Activity Billion Tourism Rev. $26.8 Billion
  27. 27. * The Total Market is approx. $1500 Billion* We assume that the available market to us is 50% of same = $750 Billion (Taking only USA and Asia)* The Market that can be served may be 14% of same (as per Phocusright report only 14% tour booking is through online )* Considering that we can handle maybe 5% of same, We can estimate the target market as $5.2 Billion TOURS MARKET   Total Market $1500 Billion Total Available Market $750 Billion Served Available Market $104 Billion Target Market $5.2 Billion